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A common objective of fMRI (functional magnetic resonance imaging) studies is to determine subject-specific areas of increased blood oxygenation level dependent (BOLD) signal contrast in response to a stimulus or task, and hence to infer regional neuronal activity. We posit and investigate a Bayesian approach that incorporates spatial and temporal(More)
a r t i c l e i n f o JEL classification: G11 L14 L22 Keywords: Franchise contract Franchise fee Real options Guaranteed profit This study constructs a real options model to evaluate franchise contracts that take into account a guaranteed profit offered by the franchisor to franchisees under a dynamic environment, as in the contract of 7-Eleven Convenient(More)
We propose a Bayesian method for variable selection in the finite mixture model of linear regressions. The model assumes that the observations come from a heterogeneous population which is a mixture of a finite number of sub-populations. Within each sub-population, the response variable can be explained by a linear regression on the predictor variables. So(More)
This paper applies real options analysis to analyze the optimal decision of adopting e-commerce when a firm's output price is uncertain. The traditional discount cash flow method ignores the value of timing and operational flexibility. Therefore, it might underestimate the value of adopting e-commerce. The paper is the first study to build a theoretical(More)
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